For Sale / Single Tenant Property

Office for Sale
Catylist Listing ID: 29774193
Property Subtypes: Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 21,666 SF
Gross Land Area: 1.03 Acres
Sale Price: $1,595,000
Unit Price: $73.62 PSF
Ceiling: 8 ft.
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Other
Cap Rate: 11.52%
Last Updated: 6/12/2018

Overview / Comments

This subject single tenant property is located in Biddeford near the intersection of Alfred Road and Elm Streets and behind the Burger King and Rite Aid at that intersection.

The property is leased by the State of Maine Department of Human Services which has occupied the building since January of 2010.. The lease also contains renewal options. This is an ideal location for DHS due to the bus line stop and 100± car parking lot.

Attachments & Media

Additional Details

Nearest MSA: Portland-South Portland
County: York
Taxing Authority: Biddeford
Tax ID/APN: Book 13261 Page 26
Zoning: R2
Road Type: Paved
Property Visibility: Good
Transportation: Bus, Highway, Airport, Taxi, Other
Highway Access: I-95
Airports: Portland International Jet Port
Site Description: This subject single tenant property is located in Biddeford near the intersection of Alfred Road and Elm Streets and behind the Burger King and Rite Aid at that intersection.
Area Description: The property is leased by the State of Maine Department of Human Services which has occupied the building since January of 2010. The lease also contains renewal options. This is an ideal location for DHS on the bus line. While it is not common for the State to do so, the owner will attempt to seek a lease renewal in advance of the expiration of the current lease.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1965
Construction/Siding: Wood Frame
Exterior Description: Vertical wood siding (possibly T-111) and shingles.
Parking Type: Surface
Parking Description: 100± spaces with parking lines faded making exact count difficult. It appears there is a line of 12± additional spaces made available at the rear of the Burger King parking lot.
Total Parking Spaces: 100
Heat Source: Central
Interior Description: Flooring: Carpet and Tile Windows: Double Pane in most locations Lighting: Parabolic style and fluorescent Restrooms: (4) - generally conforming to handicapped standards.
Zoning Description: R2
Lot Frontage: 150

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,098 33,070 50,309
Median Age: 37.86 40.87 41.35
Households: 4,976 14,235 21,431

Contact

Photograph of Listing Agent

John F. Doyon, CCIM

Malone Commercial Brokers NECPE Member
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